Beond successful closed over $17 million seed funding round from a group of esteemed investors including family offices, angel investors, and strategic partners. The round was oversubscribed, reflecting the strong confidence and belief in Beond's vision and potential.
Expressing his gratitude, Tero Taskila, chief executive and chairman, Beond said: “This funding round marks a significant milestone for Beond. "We are humbled and excited to have the support of such remarkable investors who share our passion for innovation and believe in our mission. The investment will empower Beond to realise its full potential and deliver on the promise of both this ground-breaking business model in the airline industry and pioneering experience for passengers. Beond will operate a premium leisure experience for customers while bringing to bear the benefits of a lightweight, low-cost operation based on the collective decades of experience of our team."
The start-up airline will use the funds for expanding the core team with top-tier talent, accelerate product development and innovation, hiring pilots and cabin crew to build the network.
The airline will also use a part of the funds for scaling marketing and sales efforts like increasing brand visibility and market reach to capture a broader customer base and lastly the company will secure more capacity by investing in aircraft and latest technologies in full lie-flat premium seats.
Beond will begin operations in the fall of 2023, with Maldives as its first hub, pending regulatory approval. The airline intends to fly a fleet of A320-family aircraft in a unique luxury, lay-flat configuration, bringing passengers to Maldives from Europe, the Middle East, and Asia-Pacific.